KIDS AND COIN COLLECTING Part II

Admin — Wed, 29 Sep 2010 16:45:12 +0000

They can develop an interest in history and culture.
One can hardly collect coins without learning about the people who produced them. Even if a child doesn’t continue with the hobby, they will be exposed to many other interesting subjects and develop an appreciation for their importance!

They will learn neatness.
A coin collector must be neat. They can’t have valuable coins getting lost! The coin collector will organize their collection and reference materials. Once the value of neatness is recognized it is usually applied to other aspects of life.

The ability to set and reach goals is stressed.
Coin collectors are always making short and long term plans. Few collectors are content to have a casual assortment of coins. There is a good reason why every coin is added to the collection. Coin collectors wish to build sets and acquire certain important coins. Completing a set of coins, even a small one, is seen as an important accomplishment. The collector gains much satisfaction from attaining goals.

It builds self-esteem.
Perhaps the greatest benefit coin collection offers a young person is the opportunity to legitimately participate in the adult world. There are no age restrictions and there are a number of teenagers who quickly became knowledgeable numismatists. Knowing about coins is knowledge that is appreciated by adults and the child can find themselves in a position to teach and inform adults about the hobby. Often a little success can grow into lots of ambition.

They will have to establish priorities.
Determining priorities is often difficult for children. There is so much going on and often their time and activities are planned for them. When it is their turn to decide what to do with time they seldom have creative ideas. Coin collecting can be a very exciting hobby. A child will want to spend time with their new endeavor—reading, learning and looking at the coins in their growing collection. We all must learn how to plan our time. Coin collectors know how to use leisure time wisely.

Obviously, they will better understand the value of money.
A common complaint among adults is that kids don’t understand the value of a buck. The moment they have money they find a way to spend it. The young coin collector must learn how to save for that special coin. They may be prompted to think of ways to earn extra money by getting better grades in school, working around the house, babysitting, or mowing the neighbor’s yard. Children should have fun and money often seems as a necessary part of this. Any young person could make a far worse choice than spending their money on books and coins.

They will gain specialized knowledge.
If you have a computer around the house do you notice how the kids take great pride in knowing how to operate this machine? It’s not the computer that’s important. Rather, they can do something worthwhile that you can’t do! Coin collecting offers this same rare opportunity. It also prompts children to investigate other ways to be considered an important person in the adult world.
So, you can see that coin collecting for children can provide much more than just knowledge of coins. This hobby can extend into other areas of their lives and give them opportunities to learn in various ways. So how do you get a child interested in coin collecting?

SOME FUN FACTS ABOUT COINS PART II

Admin — Thu, 19 Nov 2009 19:47:48 +0000

When the U. S. Mint was established the law required that all coins be made of gold, silver or copper. For a considerable period of time afterwards, gold was used in the $10, $5 and $2.50 pieces, silver was used to make the dollar, half-dollar, quarter, dime and half-dime while the penny and half-cent coins were made of copper.
In 1933, during the Great Depression, the U.S. Mint stopped making gold coins altogether. In 1965, as a result of a severe silver shortage, Congress dictated that silver no longer be used in making quarters and dimes. In addition, the silver content of the half-dollar (previously 90%) was reduced to 40% in 1965 and then eliminated entirely in 1971.
As previously mentioned, all of these coin denominations are now composed of copper-nickel clad with an outer layer of a 75% copper, 25% nickel alloy and a pure copper core. Nickels are made of the same copper-nickel alloy but without the copper core.
The penny’s composition was altered in 1982 from 95% copper 5% zinc, to the current 97.5% zinc, 2.5% copper mix. This was done as a cost cutting measure and to make the penny lighter in weight.
The 25-cent (quarter), 10-cent (dime), five-cent (nickel) and one-cent (penny) pieces are the coin denominations commonly in use today in the U.S. Half-dollar and dollar coins continue to be issued but rarely circulate in everyday commerce. Foreign coins exist in all sorts of denominations, so it’s impossible to list them all here.
U.S. coin denominations issued in the past but no longer in use include the half-cent, two-cent, three-cent, and 20-cent copper pieces and a small silver coin called a half-dime. Gold coins in denominations of $1, $2.50 (“Quarter Eagle”), $3, $5 (“Half Eagle”), $10 (“Eagle”), and $20 (“Double Eagle”) were issued from time to time from 1793 until 1933.
Silver half-dollars have been minted in large quantities since 1793 and peaked in popularity with the introduction of the Kennedy half-dollar in 1964. Silver-less half-dollars were first introduced in 1971.
Silver dollars have been issued at various times since 1793, were discontinued in 1933, and then re-introduced in 1971 in the form of the silver less Eisenhower dollar. The Eisenhower dollar was replaced in 1979 with the silver less Susan B. Anthony coin, in honor of the famed women’s suffrage pioneer.
A new dollar coin replaced the Susan B. Anthony coins. That coin portrays Sacagawea, the Native American woman who contributed to the success of the Lewis and Clark expedition. The coin is golden in color and made from a manganese brass metal alloy.
In addition to the above, various so-called “commemorative” coins have been issued from time to time in various denominations to honor a particular noteworthy person, place or event. The first such coin was issued in 1892 to commemorate the World Columbian Exposition in Chicago. These coins are usually made in limited quantities, sell at a premium and rarely circulate as normal coinage.
With the exception of commemorative coins and the Susan B. Anthony dollar, U.S. coins currently minted portray past famous U.S. Presidents. These coins are the Lincoln penny, introduced in 1909, the Washington quarter, first issued in 1932, the Jefferson nickel, adopted in 1938, the Franklin D. Roosevelt dime, introduced in 1946, and the Kennedy half-dollar, which was first minted in 1964.
In 1792, Congress required that all American coins show on one side “an impression emblematic of Liberty, with an inscription of the word Liberty, and the year of coinage”. This requirement has been followed since.
The phrase “In God We Trust” was first used on U.S. coins in 1864. This motto now appears on all U.S. coins.
In 1999, the design of the U.S. quarter changed. Reverses of circulating quarters will be replaced with designs representative of each of the fifty states. Each year from 1999 through 2008, five different quarters, commemorating five states will be issued in the order in which the states ratified the Constitution or were admitted to the Union. These “State Quarters” are intended for general circulation but special silver proof coins will also be sold to collectors.
The coins of other countries can reflect many different images including animals, scenes, famous buildings, and more. They often reflect the history of the country and are interesting for the novice collector because of their uniqueness.

The first international convention for coin collectors was held in August of 1962 in Detroit, Michigan. It was sponsored by the American Numismatic Association and the Canadian numismatic Association. It was estimated that over 40,000 people attended this first convention

As you can easily see, this hobby is a very popular one and the numbers are sure to be growing every day as interest is piqued. Now that we’ve got some facts about coins in general, let’s look specifically at the art of numismatics beginning with the terms you’ll need to know.

allcoincollection.com » old coins

KIDS AND COIN COLLECTING Part II

SOME FUN FACTS ABOUT COINS PART II